MBSL on expansion focusing SME sector

Merchant Bank of Sri Lanka PLC (MBSL) hosted its business partners and trade associates to a function held recently to celebrate its 30th milestone in trade banking services in Sri Lanka, . In line with the ongoing strategy to enhance and strengthen its trade finance, Capital Market and Corporate Advisory services, MBSL opened 16 branches and service centres in one day.

Through the expansion of its services, the Bank is now diversifying its reach to encourage new emerging markets by offering trade financing in generators and tool equipment textile and garments, dairy products, pharmaceuticals, steel, cement and Fixed Income Securities (debentures and others). Concentrating on the SME sector and micro-financing , MBSL is moving parallel with the Government's policy of developing the rural sector, thus encouraging and increasing exports by enlisting the active participation of the rural industries. In line with this, micro financing was introduced to the rural sector, which has been a tremendous success with a 100 percent recovery rate and a base of over 5000. The resultant increase in the national GDP is the vision shared and actively pursued by MBSL.

"MBSL confirms its vision and commitment to the nation. It is our firm conviction that our Bank will play an important role in supporting entrepreneurship, combining the quality of services of any professional bank to enhance revenue generation, client and product diversification, and associated processes and controls," Chairman of MBSL, M.R. Shah said.